Indivior PLC, a global pharmaceutical company focused on substance use disorder treatments, reported a net income of $2 million for the year ended December 31, 2024, a significant improvement from a net loss of $129 million in 2023. Net revenue increased by 9% to $1,188 million, driven primarily by a 20% increase in SUBLOCADE sales to $756 million, reflecting strong volume growth and OHS channel penetration in the U.S. This growth was partially offset by a 10% decline in SUBOXONE Film revenue to $374 million due to increased generic competition. The company also reported $15 million in net sales from OPVEE, launched in October 2023.
Significant changes compared to 2023 include a $120 million decrease in acquired in-process research and development expenses, reflecting the completion of major acquisitions in 2023. Litigation settlement expenses decreased by 18% to $195 million, while selling, general, and administrative expenses increased by 9% to $618 million, partly due to costs associated with the discontinuation of PERSERIS marketing in July 2024. The company completed a share repurchase program of up to $100 million in August 2024 and a subsequent $101 million program in January 2025. In November 2024, Indivior refinanced its long-term debt, repaying its existing credit agreement and issuing $400 million in senior secured notes.
Strategic developments during the year included the transition of the company's primary stock exchange listing to Nasdaq from the London Stock Exchange in June 2024 and FDA approval of label changes for SUBLOCADE in February 2025, enabling rapid initiation and alternative injection sites. The company also ceased all promotion and marketing activities for PERSERIS in July 2024 due to anticipated market changes impacting its financial viability. Indivior acquired Opiant Pharmaceuticals in March 2023, adding OPVEE to its portfolio, and secured global rights to INDV-6001, a potential three-month LAI buprenorphine, in October 2023. The company also announced it would not exercise its option for AEF0117 in September 2024.
Operationally, Indivior employed 1,051 people globally as of December 31, 2024, with 747 employees in the U.S. The company's U.S. net revenue accounted for 85% of total net revenue in 2024. In September 2023, Indivior received a contract from BARDA for OPVEE, with deliveries of 200,000 doses in 2024. The INSUPPORT Community Reentry Program reached over 100 enrollments in 2023. The company's market share of oral buprenorphine medication-assisted treatment in Europe remained significant at 50% in 2024.
Indivior's outlook anticipates an accelerated decline in SUBOXONE Film net revenue in 2025 due to increased generic competition and near-term challenges in the criminal justice system funding. The company expects overall net revenue and operating income to decline in 2025 compared to 2024, primarily due to the anticipated decline in SUBOXONE Film sales and the cessation of PERSERIS marketing. The company expects to invest approximately $50 million to $70 million in capital expenditures in 2025, primarily for the Raleigh Manufacturing Facility. Indivior expects to meet its obligations over the next 12 months from cash on hand and operations.
About INDIVIOR PLC
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